Pacer Advisors Inc. Purchases 53,702 Shares of ScanSource, Inc. $SCSC

Pacer Advisors Inc. increased its position in ScanSource, Inc. (NASDAQ:SCSC) by 69.7% in the first quarter, Holdings Channel.com reports. The fund owned 130,788 shares of the industrial products company’s stock after purchasing an additional 53,702 shares during the period. Pacer Advisors Inc.’s holdings in ScanSource were worth $4,748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SCSC. Canada Pension Plan Investment Board bought a new stake in shares of ScanSource in the 2nd quarter worth $25,000. Royal Bank of Canada lifted its holdings in shares of ScanSource by 165.0% during the fourth quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 1,168 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in shares of ScanSource by 400.5% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 1,670 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of ScanSource by 672.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock valued at $194,000 after buying an additional 4,032 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of ScanSource by 12.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,233 shares of the industrial products company’s stock valued at $204,000 after buying an additional 590 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SCSC has been the topic of several research analyst reports. Weiss Ratings upgraded shares of ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Wall Street Zen lowered shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $43.00.

ScanSource Stock Down 2.6%

SCSC stock opened at $57.37 on Thursday. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 0.91 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.20 and a current ratio of 1.86. The business’s 50-day moving average is $51.78 and its two-hundred day moving average is $43.55. ScanSource, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $59.60.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.91 by $0.03. The firm had revenue of $758.59 million during the quarter, compared to analyst estimates of $738.55 million. ScanSource had a net margin of 2.38% and a return on equity of 9.35%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. As a group, analysts forecast that ScanSource, Inc. will post 3.9 earnings per share for the current year.

About ScanSource

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.